What are the pros/cons of getting a smart meter installed?

dllive

Hi all,

I want to change to a cheaper tariff (electric only. I dont have gas. I have an air source heat pump). The tariff I want means that Ill have to get a smart meter installed.

I dont nessecarily mind having a smart meter, but I dont like the 'big brother' aspect of it. I know Im probably being irrational/archaic, so Im happy to get one installed unless others can voice genuine reasons why I might not want one?

The convenience of not having to submit meter readings is a mild plus, but Ive heard a few people say they have problems with theirs not working etc...

Thanks

Ayr_Rage

The main problem is that some cannot communicate with the relevant mobile/radio network to send back the readings to the provider, this is due to the local geography, not the meters.

That is a real problem with time-of-use tariffs.

Suggest you ask your neighbours if they have smart meters and whether they send readings.

Keep_pedalling

Pros 

Far better tariffs for heat pump owners
Near real time monitoring of your usage
The availability of SEG payments if you add solar panels

Cons

None

Some people do unfortunately live in homes where a smart meter can’t communicate with the outside world and if you are one of those there are no pros or cons, but you won’t be worse off than you are now. 

dllive

Thanks guys. Based on what youve said, I think Ill get one installed.

The energy company has asked the below:

• Would you like to set up a Fixed or Variable Direct Debit?
• Once you have a Smart Meter installed, would you be happy for us to take the remote readings every half an hour apposed to every 24 hours?

I presume I would like a Variable DD (so I only pay for the energy used, and dont build up a big credit with the energy supplier... which has happened in previous years). But what about the second question?

Thanks!

Keep_pedalling

The answer to the second question is yes, you won’t be able to get smart tariffs designed for your heat pump usage without it. 

Ayr_Rage

@dllive, variable DD is great if you are certain you can pay the bigger bills in winter, you always pay after you've used the energy and the provider never holds YOUR money.

Every 30 minutes is fine, it doesn't make any difference to your bill and means you can see your periods of high daily usage.

Alnat1

If you have half hour readings you will be able to monitor your use in more detail through your company's app or website. Instead of one reading per day showing your use over 24 hours, your energy company will be able to show a breakdown of how much you used in each 30 minute slot. This is really useful if you're on a Time of Use type tariff.

dllive

Fantastic - thanks guys.
Yes, woudl certainly be nice to see what Im using in almost-realtime using an app.
cheers!

twopenny

I've got one for electric and I had the same thoughts as you Dllive.

My 86yr old neighbour had one put in years ago and right up with the technology.

So far it's great. I can forget about it.

The dinky reader that sits in the kitchen that I didn't want looking at me, turned out to be useful. I found some things I thought would be costing weren't at all and things I thought would be average were astronomical - so I've been able to adjust my lifestyle to that and reduce my bills.

The only probs we get around here is the signal won't project through thick cottage walls. Don't know if they've got that fixed yet.

But the whole installation was quick and trouble free.

Ildhund

dllive said:

I presume I would like a Variable DD (so I only pay for the energy used, and dont build up a big credit with the energy supplier... which has happened in previous years). 

Check carefully. Ofgem allow for unit rates and standing charges for those who pay in arrears to be higher than for those who pay by constant Direct Debit, to the tune of £60 a year for the typical household. Some suppliers take advantage of this if payment is by variable Direct Debit, others don't (currently). 

WibbleBaaaaaa

Biggest con for a smart meter is when they fail, because that is when you will have to jump though what seems like unending hoops to get anything down about it.....in my own case i have had 2 smart meters installed, one failed after 6 weks, took another 5 months to replace it, so for me i have had a 50/50 fail rate from SM installs, wheras my old dumb meter had zero issues for over almost 20 years from the day it was installed to the day i replaced it with a smart meter.

Oh and the small IHD has never worked from day 1, and in that case no one really cared to do anything.